Ripple Prime Opens 100+ Traditional Markets to 24/7 Perp Swaps
Ripple said its institutional brokerage division, Ripple Prime, now supports real‑world asset (RWA) perpetual swaps referencing more than 100 traditional markets, with trading firm Virtu among participating clients.
What trades around the clock
According to Ripple, the new swaps cover equities, exchange‑traded funds (ETFs), stock indices, precious metals, energy products, and foreign exchange. While conventional exchanges run on set hours, these derivatives provide continuous exposure, including weekends.
The announcement said the swaps reference perpetual futures contracts listed by Trade.xyz on Hyperliquid, a decentralized derivatives exchange. Ripple Prime acts as principal, giving institutions access through its brokerage infrastructure rather than requiring direct trading on the underlying venue.
Margin, collateral, and design
Ripple said institutions can cross‑margin RWA swap positions against other supported assets and may post RLUSD—Ripple’s dollar‑pegged stablecoin—as collateral, subject to jurisdictional availability.
“RWA swaps are where traditional and digital markets meet,” said Michael Higgins, international CEO of Ripple Prime. He said the firm is addressing institutional demand for exposure to conventional assets without being tied to legacy market hours, citing centralized risk management, consolidated margin, and a single‑counterparty structure.
Who’s trading and where it’s live
Ripple named Virtu as a participant. “Virtu is ramping up across emerging liquidity pools, and Ripple Prime’s 24/7 cross‑margining across asset classes helps us expand our presence more efficiently as markets move toward ’round‑the‑clock access,” said Scotte Moegling, Virtu’s head of business development for digital assets.
Ripple said trading volumes for perpetual futures tied to real‑world assets have risen substantially this year, but it did not provide figures. The company said the service currently operates under Ripple Prime’s CIV BVI license, with plans to extend availability to additional jurisdictions.